There would certainly be some economic benefits to all of this, however. The CBO has a wide range of estimates for the positives - between 0.8% and 5% growth in real GDP, and between 1.1 million and 5.8 million new jobs. There are a lot of caveats here, as it's an incredibly wide range of estimates, but there would...
In response to:
Mr. Glass, you are re-stating what has been obvious since the Phoenicians invented money. What's more, the truth of what you say does not change the fact it is re-arranging deck chairs on a sinking ship. The demographic time bomb of unfunded entitlements in social security and medicare for an aging nation is far more expensive, inevitable and difficult to repair. And nobody inside the beltway with any power to start to deal with the DTB even mentions it.
The Congressional Budget Office released their analysis of the group of deficit-fighting policies known as the "fiscal cliff." The big takeaway: completely averting the contraction that would occur in 2013 and 2014 would cost $1.16 trillion - entirely deficit-financed.
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